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Turkey’s economy continues to expand in Q1

by ChemOrbis Editorial Team -
  • 12/06/2017 (11:13)
According to data from the Turkish Statistical Institute (TurkStat), Turkey’s gross domestic product (GDP) increased by 5% in the first quarter of 2017 when compared to the same quarter of 2016. Among the activities that constitute gross domestic product (GDP), the construction sector grew by 3.7%, the agricultural sector by 3.2%, the industry sector by 5.3% and the service sector by 5.2% year on year.

The data showed that household final consumption expenditure was up by 5.1% in Q1 on the year while government final consumption expenditure and gross fixed capital formation rose 9.4% and 2.2% respectively on a yearly basis.

According to data, export of goods and services were up by 10.6% while imports of goods and services were up by 0.8% on the year in Q1.
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